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Document And Entity Information
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6 Months Ended | |
|---|---|---|
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Jun. 30, 2011
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Jul. 31, 2011
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| Document And Entity Information | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Jun. 30, 2011 | |
| Document Fiscal Year Focus | 2011 | |
| Document Fiscal Period Focus | Q2 | |
| Entity Registrant Name | IDEX CORP /DE/ | |
| Entity Central Index Key | 0000832101 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 83,079,161 |
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- Definition
If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements this will be the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type should be limited to the same value as the supporting SEC submission type. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, NCSR, N-Q, and Other. No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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- Details
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- Definition
Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at fiscal year-end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, and unrealized gains and losses on certain investments in debt and equity securities as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. This caption alerts the reader that one or more notes to the financial statements disclose pertinent information about the entity's commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Dollar value of issued common stock whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of the sum of short-term debt and current maturities of long-term debt and capital lease obligations, which are due within one year (or one business cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid, adjusted for any amortization recognized prior to adoption of FAS 142 and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). No definition available.
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. No definition available.
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- Definition
Total of all Liabilities and Stockholders' Equity items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet due to materiality considerations. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Dollar value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value of common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Treasury stock is issued but is not outstanding. This stock has no voting rights and receives no dividends. Note that treasury stock may be recorded at its total cost or separately as par (or stated) value and additional paid in capital. Note: number of treasury shares concept is in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified |
Jun. 30, 2011
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Dec. 31, 2010
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|---|---|---|
| Condensed Consolidated Balance Sheets | ||
| Receivables, allowance for doubtful accounts | $ 5,854 | $ 5,322 |
| Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
| Preferred stock, par value | $ 0.01 | $ 0.01 |
| Preferred stock, shares issued | 0 | 0 |
| Common stock, shares authorized | 150,000,000 | 150,000,000 |
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares issued | 85,751,231 | 84,636,668 |
| Treasury stock, shares | 2,729,127 | 2,566,985 |
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- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
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Jun. 30, 2011
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Jun. 30, 2010
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Jun. 30, 2011
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Jun. 30, 2010
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| Condensed Consolidated Statements Of Operations | ||||
| Net sales | $ 453,798 | $ 378,526 | $ 880,887 | $ 734,124 |
| Cost of sales | 268,959 | 223,705 | 517,348 | 431,762 |
| Gross profit | 184,839 | 154,821 | 363,539 | 302,362 |
| Selling, general and administrative expenses | 105,210 | 91,010 | 206,189 | 178,791 |
| Restructuring expenses | 1,031 | 2,898 | ||
| Operating income | 79,629 | 62,780 | 157,350 | 120,673 |
| Other income (expense) - net | 347 | 239 | (560) | 493 |
| Interest expense | 6,720 | 3,599 | 13,174 | 7,033 |
| Income before income taxes | 73,256 | 59,420 | 143,616 | 114,133 |
| Provision for income taxes | 23,074 | 19,022 | 45,483 | 37,110 |
| Net income | $ 50,182 | $ 40,398 | $ 98,133 | $ 77,023 |
| Basic earnings per common share | $ 0.61 | $ 0.50 | $ 1.19 | $ 0.95 |
| Diluted earnings per common share | $ 0.60 | $ 0.49 | $ 1.17 | $ 0.94 |
| Share data: | ||||
| Basic weighted average common shares outstanding | 82,151 | 80,369 | 81,790 | 80,225 |
| Diluted weighted average common shares outstanding | 83,778 | 81,800 | 83,507 | 81,655 |
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- Definition
The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. No definition available.
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- Definition
Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
The net amount of other nonoperating income and expense, which does not qualify for separate disclosure on the income statement under materiality guidelines. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount charged against earnings in the period for incurred and estimated costs, excluding asset retirement obligations, associated with exit from or disposal of business activities or restructurings pursuant to a program that is planned and controlled by management, and materially changes either the scope of a business undertaken by an entity, or the manner in which that business is conducted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidated Statements Of Shareholders' Equity (USD $)
In Thousands, unless otherwise specified |
Common Stock and Additional Paid-In Capital [Member]
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Retained Earnings [Member]
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Cumulative Translation Adjustment [Member]
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Retirement Benefits Adjustments [Member]
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Cumulative Unrealized Loss on Derivatives [Member]
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Treasury Stock [Member]
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Total
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|---|---|---|---|---|---|---|---|
| Balance at Dec. 31, 2010 | $ 442,117 | $ 1,005,040 | $ 38,302 | $ (30,088) | $ (20,923) | $ (58,788) | $ 1,375,660 |
| Net income | 98,133 | 98,133 | |||||
| Other comprehensive income, net of tax: | |||||||
| Cumulative translation adjustment | 31,537 | 31,537 | |||||
| Amortization of retirement obligations | 1,577 | 1,577 | |||||
| Net change on derivatives designated as cash flow hedges | 1,764 | 1,764 | |||||
| Other comprehensive income | 34,878 | ||||||
| Comprehensive income | 133,011 | ||||||
| Issuance of 1,108,287 shares of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans, net of tax benefit | 27,114 | 27,114 | |||||
| Unvested shares surrendered for tax withholding | (5,768) | (5,768) | |||||
| Share-based compensation | 9,800 | 9,800 | |||||
| Cash dividends declared - $.34 per common share | (28,167) | (28,167) | |||||
| Balance at Jun. 30, 2011 | $ 479,031 | $ 1,075,006 | $ 69,839 | $ (28,511) | $ (19,159) | $ (64,556) | $ 1,511,650 |
| X | ||||||||||
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- Definition
Issuance of common stock from exercise of stock options and deferred compensation plans, net of tax benefit. No definition available.
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| X | ||||||||||
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- Definition
Unvested shares surrendered for tax withholding. No definition available.
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| X | ||||||||||
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- Definition
Tax benefit associated with any share-based compensation plan other than an employee stock ownership plan (ESOP). The tax benefit results from the deduction by the entity on its tax return for an award of stock that exceeds the cumulative compensation cost for common stock or preferred stock recognized for financial reporting. Includes any resulting tax benefit that exceeds the previously recognized deferred tax asset (excess tax benefits). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Common stock cash dividend declared by an entity during the period. This element includes paid and unpaid dividends declared during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The adjustment out of other comprehensive income for prior service costs recognized as a component of net period benefit cost during the period, after tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity, net of tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents Other Comprehensive Income (Loss), Net of Tax, for the period. Includes deferred gains (losses) on qualifying hedges, unrealized holding gains (losses) on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, net of tax effect. The after tax effect change includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Condensed Consolidated Statements Of Shareholders' Equity (Parenthetical) (USD $)
|
6 Months Ended |
|---|---|
|
Jun. 30, 2011
|
|
| Condensed Consolidated Statements Of Shareholders' Equity | |
| Issuance of common stock from exercise of stock options and deferred compensation plans, shares | 1,108,287 |
| Cash dividends declared, per common share | $ 0.34 |
| X | ||||||||||
|
- Definition
Issuance of common stock from exercise of stock options and deferred compensation plans, Shares. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
|
Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | |
|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
| Cash flows from operating activities | ||
| Net income | $ 98,133 | $ 77,023 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Gain on sale of fixed assets | (2,831) | |
| Depreciation and amortization | 17,127 | 16,920 |
| Amortization of intangible assets | 15,449 | 12,733 |
| Amortization of debt issuance expenses | 647 | 219 |
| Share-based compensation expense | 10,082 | 9,330 |
| Deferred income taxes | 2,427 | 1,656 |
| Excess tax benefit from share based compensation | (4,010) | (2,284) |
| Changes in: | ||
| Receivables | (25,722) | (20,950) |
| Inventories | (19,532) | (14,618) |
| Trade accounts payable | 6,101 | 10,668 |
| Accrued expenses | (6,490) | 9,547 |
| Other - net | (10,543) | (4,539) |
| Net cash flows provided by operating activities | 80,838 | 95,705 |
| Cash flows from investing activities | ||
| Cash purchases of property, plant and equipment | (18,618) | (17,533) |
| Proceeds from disposal of fixed assets | 12,651 | |
| Acquisition of businesses, net of cash acquired | (446,044) | (51,273) |
| Other - net | (2,289) | |
| Net cash flows used in investing activities | (454,300) | (68,806) |
| Cash flows from financing activities | ||
| Borrowings under credit facilities for acquisitions | 365,000 | 53,866 |
| Borrowings under revolving facilities | 374,222 | |
| Borrowings under credit facilities | 1,886 | 2,266 |
| Proceeds from issuance of 2.58% Senior Euro Notes | 96,762 | |
| Payments under credit facilities and term loan | (402,976) | (73,297) |
| Debt issuance costs | (2,465) | |
| Dividends paid | (26,360) | (21,869) |
| Proceeds from stock option exercises | 24,053 | 5,994 |
| Excess tax benefit from share-based compensation | 4,010 | 2,284 |
| Unvested shares surrendered for tax withholding | (5,768) | (743) |
| Net cash flows provided by financing activities | 331,602 | 65,263 |
| Effect of exchange rate changes on cash and cash equivalents | 9,685 | (6,550) |
| Net increase (decrease) in cash | (32,175) | 85,612 |
| Cash and cash equivalents at beginning of year | 235,136 | 73,526 |
| Cash and cash equivalents at end of period | 202,961 | 159,138 |
| Cash paid for: | ||
| Interest | 12,821 | 6,840 |
| Income taxes | 35,307 | 24,974 |
| Significant non-cash activities: | ||
| Contingent consideration for acquisition | 2,707 | |
| Debt acquired with acquisition of business | 1,400 | 722 |
| Issuance of unvested shares | $ 11,938 | $ 2,917 |
| X | ||||||||||
|
- Definition
Borrowings under credit facilities for acquisitions. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Contingent Consideration For Acquisition No definition available.
|
| X | ||||||||||
|
- Definition
Debt acquired with acquisition of business. No definition available.
|
| X | ||||||||||
|
- Definition
Issuance of unvested shares. No definition available.
|
| X | ||||||||||
|
- Definition
Unvested shares surrendered for tax withholding. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The component of interest expense comprised of the periodic charge against earnings over the life of the financing arrangement to which such costs relate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by (used in) operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The net change between the beginning and ending balance of cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from share-based compensation recognized in financial statements. This element represents the cash inflow reported in the enterprise's financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from share-based compensation recognized in financial statements. This element reduces net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The net change during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For entities with classified balance sheets, the net change during the reporting period in the value of other assets or liabilities used in operating activities, that are not otherwise defined in the taxonomy. For entities with unclassified balance sheets, the net change during the reporting period in the value of all other assets or liabilities used in operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The amount of cash paid during the current period for interest owed on money borrowed; includes amount of interest capitalized Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
The net cash outflow (inflow) from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow from the distribution of an entity's earnings in the form of dividends to common shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for the settlement of obligation drawn from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Basis Of Presentation And Significant Accounting Policies
|
6 Months Ended | ||
|---|---|---|---|
|
Jun. 30, 2011
|
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| Basis Of Presentation And Significant Accounting Policies | |||
| Basis Of Presentation And Significant Accounting Policies |
The Condensed Consolidated Financial Statements of IDEX Corporation ("IDEX" or the "Company") have been prepared in accordance with the instructions to Form 10-Q under the Securities Exchange Act of 1934, as amended. The statements are unaudited but include all adjustments, consisting only of recurring items, except as noted, which the Company considers necessary for a fair presentation of the information set forth herein. The results of operations for the three and six months ended June 30, 2011 are not necessarily indicative of the results to be expected for the entire year. The condensed consolidated financial statements and Management's Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010. Adoption of New Accounting Standards In October 2009, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2009-13, "Revenue Recognition (Topic 605) — Multiple-Deliverable Revenue Arrangements." ASU No. 2009-13 addresses the accounting for multiple-deliverable arrangements to enable vendors to account for products or services (deliverables) separately rather than as a combined unit. This guidance establishes a selling price hierarchy for determining the selling price of a deliverable, which is based on: (a) vendor-specific objective evidence; (b) third-party evidence; or (c) estimated selling price. This guidance also eliminates the residual method of allocation and requires that arrangement consideration be allocated at the inception of the arrangement to all deliverables using the relative selling price method. ASU No. 2009-13 is effective prospectively for revenue arrangements entered into or materially modified in fiscal years beginning on or after June 15, 2010. The Company's adoption of ASU No. 2009-13 effective January 1, 2011 did not have a material impact on its consolidated financial position, results of operations or cash flows. In December 2010, the FASB issued ASU No. 2010-29, Business Combinations (Topic 805), "Disclosure of Supplementary Pro Forma Information for Business Combinations". ASU No. 2010-29 requires revenues and earnings of the combined entity be disclosed as if the business combination occurred as of the beginning of the comparable prior annual reporting period. The ASU also requires additional disclosures about adjustments included in the reported pro forma revenues and earnings. The Company adopted the provisions of ASU No. 2010-29 prospectively for business combinations for which the acquisition date is on or after January 1, 2011. New Accounting Pronouncements In May 2011, the FASB issued ASU 2011-04, which is an update to Topic 820, "Fair Value Measurement". This update establishes common requirements for measuring fair value and related disclosures in accordance with accounting principles generally accepted in the United Sates and international financial reporting standards. This amendment did not require additional fair value measurements. ASU 2011-04 is effective for all interim and annual reporting periods beginning after December 15, 2011. ASU 2011-04 is not expected to have a material impact on the consolidated financial position, results of operations or cash flows of the Company. In June 2011, the FASB issued ASU 2011-05, an update to Topic 220, "Comprehensive Income". This update eliminates the option of presenting the components of other comprehensive income as part of the statement of changes in stockholders' equity, requires consecutive presentation of the statement of net income and other comprehensive income and requires reclassification adjustments from other comprehensive income to net income to be shown on the financial statements. ASU 2011-05 is effective for all interim and annual reporting periods beginning after December 15, 2011. ASU 2011-05 is not expected to have a material impact on the consolidated financial position, results of operations or cash flows of the Company. |
| X | ||||||||||
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- Details
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| X | ||||||||||
|
- Definition
Basis of Presentation and Significant Accounting Policies. No definition available.
|
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Restructuring
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2011
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| Restructuring | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring |
The Company has recorded restructuring costs as a result of cost reduction efforts and facility closings. Accruals have been recorded based on these costs and primarily consist of employee termination benefits. We record expenses for employee termination benefits based on the guidance of Accounting Standards Codification ("ASC") 420, "Exit or Disposal Cost Obligations." These expenses were included in Restructuring expenses in the Consolidated Statements of Operations while the related restructuring accruals are included in Accrued expenses in the Consolidated Balance Sheets.
During the three and six months ended June 30, 2010, the Company recorded $1.0 million and $2.9 million, respectively, of pre-tax restructuring expenses related to its 2009 restructuring initiative for employee severance related to employee reductions across various functional areas as well as facility closures resulting from the Company's cost savings initiatives. Pre-tax restructuring expenses, by segment, for the three months ended June 30, 2010 were as follows:
Pre-tax restructuring expenses, by segment, for the six months ended June 30, 2010 were as follows:
Restructuring accruals of $1.0 million and $3.5 million as of June 30, 2011 and December 31, 2010, respectively, are reflected in Accrued expenses in the Consolidated Balance Sheets as follows:
The remainder of the restructuring accrual is expected to be paid by the end of 2011. |
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| X | ||||||||||
|
- Definition
Description of restructuring activities including exit and disposal activities, which should include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. This description does not include restructuring costs in connection with a business combination or discontinued operations and long-lived assets (disposal groups) sold or classified as held for sale. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Acquisitions
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2011
|
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| Acquisitions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions |
On January 20, 2011, the Company acquired the membership interests of Advanced Thin Films, LLC ("AT Films"). AT Films specializes in optical components and coatings for applications in the fields of scientific research, defense, aerospace, telecommunications and electronics manufacturing. AT Films' core competence is the design and manufacture of filters, splitters, reflectors and mirrors with the precise physical properties required to support their customers' most challenging and cutting-edge optical applications. Headquartered in Boulder, Colorado, AT Films has annual revenues of approximately $9.0 million. AT Films operates within the Health & Science Technologies Segment as a part of the IDEX optics and photonics platform. The Company acquired AT Films for an aggregate purchase price of $34.5 million, consisting of $31.8 million in cash and contingent consideration valued at approximately $2.7 million. The potential undiscounted amount of all future payments that the Company could be required to pay under the contingent consideration arrangement is between $0 and $3.0 million. Goodwill and intangible assets recognized as part of this transaction were $16.7 million and $11.4 million, respectively. The $16.7 million of goodwill is deductible for tax purposes. On March 11, 2011, the Company completed the acquisition of Microfluidics International Corporation ("Microfluidics"). Microfluidics is a global leader in the design and manufacture of laboratory and commercial equipment used in the production of micro and nano scale materials for the pharmaceutical and chemical markets. Microfluidics is the exclusive producer of the Microfluidizer® family of high shear fluid processors for uniform particle size reduction, robust cell disruption and nanoparticle creation. Microfluidics operates within the Health & Science Technologies Segment as a part of the IDEX Pharma platform. The Company acquired Microfluidics for an aggregate purchase price of $18.5 million in cash. Headquartered in Newton, Massachusetts, Microfluidics has annual revenues of approximately $16.0 million. Goodwill and intangible assets recognized as part of this transaction were $4.4 million and $9.7 million, respectively. The $4.4 million of goodwill is not deductible for tax purposes.
On June 10, 2011, the Company completed the acquisition of CVI Melles Griot ("CVI MG"). CVI MG is a global leader in the design and manufacture of precision photonic solutions used in the life sciences, research, semiconductor, security and defense markets. CVI MG's innovative products are focused on the generation, control and productive use of light for a variety of key science and industrial applications. Products include specialty lasers and light sources, electro-optical components, specialty shutters, opto-mechanical assemblies and components. In addition, CVI MG produces critical components for life science research, electronics manufacturing, military and other industrial applications including lenses, mirrors, filters and polarizers. These components are utilized in a number of important applications such as spectroscopy, cytometry (cell counting), guidance systems for target designation, remote sensing, menology and optical lithography. CVI MG operates within the Health and Science Technologies Segment as part of the IDEX optics and photonics platform. The Company acquired CVI MG for an aggregate purchase price of $397.1 million, consisting of $395.7 million in cash and the assumption of approximately $1.4 million of debt. Approximately $365.0 million of the cash payment was financed with borrowings under the Company's revolving credit facility. Headquartered in Albuquerque, New Mexico, with manufacturing sites located on three continents, CVI MG has annual revenues of approximately $185.0 million. Goodwill and intangible assets recognized as part of this transaction were $199.5 million and $114.3 million, respectively. Approximately $116.6 million of goodwill is deductible for tax purposes. The purchase price for CVI MG, AT Films and Microfluidics has been allocated to the assets acquired and liabilities assumed based on estimated fair values at the date of the acquisition. The Company is in the process of obtaining or finalizing appraisals of tangible and intangible assets and it is continuing to evaluate the initial purchase price allocations, as of the acquisition date, which will be adjusted as additional information relative to the fair values of the assets and liabilities of the businesses become known. Accordingly, management has used its best estimate in the initial purchase price allocation as of the date of the filing of these financial statements. The allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values at June 30, 2011, is as follows:
Of the $135.4 million of acquired intangible assets, $47.0 million was assigned to a trade name that is not subject to amortization. The remaining $88.4 million of acquired intangible assets consist of patents, trade names, customer relationships, non-compete and unpatented technology, which are being amortized over a life of 2-15 years. The goodwill recorded for the acquisitions reflects the strategic fit and revenue and earnings growth potential of these businesses. The Company incurred $5.3 million of acquisition-related transaction costs in the first six months of 2011. These costs were recorded in selling, general and administrative expense and were related to completed transactions, pending transactions and potential transactions, including certain transactions that ultimately were not completed. In accordance with ASU 2010-29, "Disclosure of Supplementary Pro Forma Information for Business Combinations," the following unaudited pro forma information illustrates the effect on the Company's net sales and net income for the three and six months ended June 30, 2011 and 2010, assuming that the 2011 acquisition had taken place at the beginning of 2010. As a result, the pro forma net income reflects adjustments for the three and six months ended June 30, 2010 to include $3.0 million and $16.4 million, respectively of pre-tax acquisition fair value inventory charges and adjustments for the three and six months ended June 30, 2011 to exclude $6.4 million and $11.2 million, respectively of pre-tax acquisition-related costs. The 2011 and 2010 supplemental pro forma net income are also adjusted to reflect the comparable impact of additional depreciation and amortization expense resulting from the fair value measurement of tangible and intangible assets and financing costs relating to the 2011 acquisitions.
These pro forma results of operations have been prepared for comparative purposes only. They do not purport to be indicative of the results of operations that actually would have resulted had the acquisitions occurred on the date indicated or that may result in the future. |
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Description of a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. This element may be used as a single block of text to encapsulate the entire disclosure (including data and tables) regarding business combinations, including leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Business Segments
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Jun. 30, 2011
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| Business Segments |
The Company has four reportable business segments: Fluid & Metering Technologies, Health & Science Technologies, Dispensing Equipment and Fire & Safety/Diversified Products. The Fluid & Metering Technologies Segment designs, produces and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems and provides flow monitoring and other services for water & wastewater. The Health & Science Technologies Segment designs, produces and distributes a wide range of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction and drying systems used in beverage, food processing, pharmaceutical and cosmetics, pneumatic components and sealing solutions, including very high precision, low-flow rate pumping solutions required in analytical instrumentation, clinical diagnostics and drug discovery, high performance molded and extruded, biocompatible medical devices and implantables, air compressors used in medical, dental and industrial applications, optical components and coatings for applications in the fields of scientific research, defense, aerospace, telecommunications and electronics manufacturing, laboratory and commercial equipment used in the production of micro and nano scale materials, precision photonic solutions used in life sciences, research and defense markets, and precision gear and peristaltic pump technologies that meet exacting OEM specifications. The Dispensing Equipment Segment produces precision equipment for dispensing, metering and mixing colorants and paints used in a variety of retail and commercial businesses around the world. The Fire & Safety/Diversified Products Segment produces firefighting pumps and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, and engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications. Information on the Company's business segments is presented below, based on the nature of products and services offered. The Company evaluates performance based on several factors, of which operating income is the primary financial measure. Intersegment sales are accounted for at fair value as if the sales were to third parties. Certain prior year amounts have been revised to reflect the movement of the Pharma group from the Fluid & Metering Technologies Segment to the Health & Science Technologies Segment.
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This element may be used to capture the complete disclosure of reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10% or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Common Share
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Jun. 30, 2011
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| Earnings Per Common Share |
Earnings per common share ("EPS") are computed by dividing net income by the weighted average number of shares of common stock (basic) plus common stock equivalents outstanding (diluted) during the period. Common stock equivalents consist of stock options, which have been included in the calculation of weighted average shares outstanding using the treasury stock method, unvested shares, and shares issuable in connection with certain deferred compensation agreements ("DCUs"). ASC 260 "Earnings Per Share", ("ASC 260") concludes that all outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends participate in undistributed earnings with common shareholders. If awards are considered participating securities, the Company is required to apply the two-class method of computing basic and diluted earnings per share. The Company has determined that its outstanding unvested shares are participating securities. Accordingly, earnings per common share are computed using the two-class method prescribed by ASC 260. Net income attributable to common shareholders was reduced by $0.4 million for both the three months ended June 30, 2011 and 2010. Net income attributable to common shareholders was reduced by $0.8 million and $0.7 million for the six months ended June 30, 2011 and 2010, respectively. Basic weighted average shares reconciles to diluted weighted average shares as follows:
Options to purchase approximately 0.7 million and 2.4 million shares of common stock as of June 30, 2011 and 2010, respectively, were not included in the computation of diluted EPS because the exercise price was greater than the average market price of the Company's common stock and, therefore, the effect of their inclusion would be antidilutive. |
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This element may be used to capture the complete disclosure pertaining to an entity's earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Inventories
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Jun. 30, 2011
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| Inventories |
The components of inventories as of June 30, 2011 and December 31, 2010 were:
Inventories are stated at the lower of cost or market. Cost, which includes material, labor, and factory overhead, is determined on a FIFO basis. |
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This element represents the complete disclosure related to inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill And Intangible Assets
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Jun. 30, 2011
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| Goodwill And Intangible Assets |
The changes in the carrying amount of goodwill for the six months ended June 30, 2011, by reportable business segment, were as follows:
ASC 350 "Goodwill and Other Intangible Assets" requires that goodwill be tested for impairment at the reporting unit level on an annual basis and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. Annually on October 31st, goodwill and other acquired intangible assets with indefinite lives are tested for impairment. The Company concluded that the fair value of each of the reporting units was in excess of the carrying value as of October 31, 2010. The Company did not consider there to be any triggering event that would require an interim impairment assessment, therefore none of the goodwill or other acquired intangible assets with indefinite lives were tested for impairment during the six months ended June 30, 2011. The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at June 30, 2011 and December 31, 2010:
The unamortized trade names are indefinite lived intangible assets which are tested for impairment on an annual basis or more frequently if events or changes in circumstances indicate that the asset might be impaired. |
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Discloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Expenses
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Jun. 30, 2011
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| Accrued Expenses |
The components of accrued expenses as of June 30, 2011 and December 31, 2010 were:
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Accrued Liability Disclosure No definition available.
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Other Noncurrent Liabilities
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Jun. 30, 2011
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| Other Noncurrent Liabilities |
The components of noncurrent liabilities as of June 30, 2011 and December 31, 2010 were:
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Borrowings
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Jun. 30, 2011
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| Borrowings |
Borrowings at June 30, 2011 and December 31, 2010 consisted of the following:
On June 27, 2011, the Company entered into a credit agreement (the "Credit Agreement") along with certain of its subsidiaries, as borrowers (the "Borrowers"), Bank of America, N.A., as administrative agent, swing line lender and an issuer of letters of credit, with other lenders party thereto. The Credit Agreement replaces the Company's previous $600.0 million credit facility, which was due to expire in December 2011.
The Credit Agreement consists of a revolving credit facility (the "Revolving Facility") in an aggregate principal amount of $700.0 million with a final maturity date of June 27, 2016. The maturity date may be extended under certain conditions for an additional one-year term prior to the second anniversary of the initial closing date of June 27, 2011. Up to $75.0 million of the Revolving Facility is available for the issuance of letters of credit. Additionally, up to $25.0 million of the Revolving Facility is available to the Company for swing line loans, available on a same-day basis. Proceeds of the Revolving Facility are available for use by the Borrowers for working capital and other general corporate purposes, including refinancing existing debt of the Company and its subsidiaries. The Company may request increases in the lending commitments under the Credit Agreement, but the aggregate lending commitments may not exceed $950.0 million. The Company has the right, subject to certain conditions set forth in the Credit Agreement, to designate certain foreign subsidiaries of the Company as borrowers under the Credit Agreement. In connection with any such designation, the Company is required to guarantee the obligations of any such subsidiaries under the Credit Agreement. As of the agreement date, Fluid Management Europe B.V., ("FME") and IDEX UK Ltd. ("IDEX UK") were approved by the lenders as designated borrowers. At June 30, 2011, FME had no borrowings under the Revolving Facility, while IDEX UK's borrowings under the Revolving Facility were £12.0 million ($19.2 million). As IDEX UK's borrowings under the Revolving Facility are British Pound denominated and the cash flows that will be used to make payments of principal and interest are predominately generated in British Pounds, the Company does not anticipate any significant foreign exchange gains or losses in servicing this debt. Borrowings under the Revolving Facility bear interest, at either an alternate base rate or an adjusted LIBOR rate plus, in each case, an applicable margin. Such applicable margin is based on the Company's senior, unsecured, long-term debt rating and can range from .875% to 1.70%. Based on the Company's credit rating at June 30, 2011, the applicable margin was 1.05%. Interest is payable (a) in the case of base rate loans, quarterly, and (b) in the case of LIBOR rate loans, on the maturity date of the borrowing, or quarterly from the effective date for borrowings exceeding three months. An annual Revolving Facility fee, also based on the Company's credit rating, is currently 20 basis points and is payable quarterly. The Credit Agreement requires payment to the lenders of a facility fee based upon (a) the amount of the lenders' commitments under the Revolving Facility from time to time and (b) the applicable corporate credit ratings of the Company. Voluntary prepayments of any loans and voluntary reductions of the unutilized portion of the commitments under the Revolving Facility are permissible without penalty, subject to break funding payments and minimum notice and minimum reduction amount requirements. The Credit Agreement contains affirmative and negative covenants that the Company believes are usual and customary for senior unsecured credit agreements, including a financial covenant requiring the maintenance of a 3.25 to 1.0 or lower leverage ratio, which is the ratio of the Company's consolidated total debt to its consolidated EBITDA, each as defined in the Credit Agreement. The Credit Agreement also contains customary events of default (subject to grace periods, as appropriate) including among others: nonpayment of principal, interest or fees; breach of the representations or warranties in any material respect; breach of the financial, affirmative or negative covenants; payment default on, or acceleration of, other material indebtedness; bankruptcy or insolvency; material judgments entered against the Company or any of its subsidiaries; certain specified events under the Employee Retirement Income Security Act of 1974, as amended; certain changes in control of the Company; and the invalidity or unenforceability of the Credit Agreement or other documents associated with the Credit Agreement. At June 30, 2011, there was $374.2 million outstanding under the Credit Agreement and outstanding letters of credit totaled approximately $7.0 million. The net available borrowing under the Revolving Facility at June 30, 2011, was approximately $318.8 million. On April 18, 2008, the Company completed a $100.0 million unsecured senior bank term loan agreement ("Term Loan"), with covenants consistent with its credit facility and a maturity on December 21, 2011. At June 30, 2011, there was $82.0 million outstanding under the Term Loan, which was included within the current portion of long-term debt. Interest under the Term Loan is based on the bank agent's reference rate or LIBOR plus an applicable margin and is payable at the end of the selected interest period, but at least quarterly. The applicable margin is based on the Company's senior, unsecured, long-term debt rating and can range from 45 to 100 basis points. Based on the Company's current debt rating, the applicable margin is 80 basis points. The Company currently maintains an interest rate exchange agreement related to the Term Loan which expires in December 2011. This interest rate exchange agreement has a current notional amount of $82.0 million and effectively converts $100.0 million of floating-rate debt into fixed-rate debt at an interest rate of 4.00%. The fixed rate is comprised of the fixed rate on the interest rate exchange agreement and the Company's current margin of 80 basis points on the Term Loan. On June 9, 2010, the Company completed a private placement of €81.0 million ($96.8 million) aggregate principal amount of 2.58% Series 2010 Senior Euro Notes due June 9, 2015 ("2.58% Senior Euro Notes") pursuant to a Master Note Purchase Agreement, dated June 9, 2010 (the "Purchase Agreement"). The Purchase Agreement provides for the issuance of additional series of notes in the future, provided that the aggregate principal amount outstanding under the agreement at any time does not exceed $750.0 million. The 2.58% Senior Euro Notes bear interest at a rate of 2.58% per annum and will mature on June 9, 2015. The 2.58% Senior Euro Notes are unsecured obligations of the Company and rank pari passu in right of payment with all of the Company's other senior debt. The Company may at any time prepay all or any portion of the 2.58% Senior Euro Notes; provided that any such portion is greater than 5% of the aggregate principal amount of Notes then outstanding under the Purchase Agreement. In the event of a prepayment, the Company will pay an amount equal to par plus accrued interest plus a make-whole premium. The Purchase Agreement contains certain covenants that restrict the Company's ability to, among other things, transfer or sell assets, create liens and engage in certain mergers or consolidations. In addition, the Company must comply with a leverage ratio and interest coverage ratio as set forth in the Purchase Agreement. The Purchase Agreement provides for customary events of default. In the case of an event of default arising from specified events of bankruptcy or insolvency, all outstanding 2.58% Senior Euro Notes will become due and payable immediately without further action or notice. In the case of payment events of defaults, any holder of the 2.58% Senior Euro Notes affected thereby may declare all the 2.58% Senior Euro Notes held by it due and payable immediately. In the case of any other event of default, a majority of the holders of the 2.58% Senior Euro Notes may declare all the 2.58% Senior Euro Notes to be due and payable immediately. The Company used a portion of the proceeds from the private placement to pay down existing debt outstanding under its credit facility that had previously been denominated in Euros, with the remainder being available for ongoing business activities. On December 6, 2010, the Company completed a public offering of $300.0 million 4.5% senior notes due December 15, 2020 ("4.5% Senior Notes"). The net proceeds from the offering of approximately $295.7 million, after deducting the $1.6 million issuance discount, the $1.9 million underwriting commission and estimated offering expenses of approximately $0.8 million, were used to repay $250.0 million of outstanding indebtedness under the Credit Facility. The balance of the net proceeds was used for general corporate purposes. The 4.5% Senior Notes bear interest at a rate of 4.5% per annum, which is payable semi-annually in arrears on each June 15 and December 15, beginning June 15, 2011. The Company may redeem all or part of the 4.5% Senior Notes at any time prior to maturity at the redemption prices set forth in the Note Indenture ("Indenture") governing the 4.5% Senior Notes. The Company may issue additional debt from time to time pursuant to the Indenture. The Indenture and 4.5% Senior Notes contain covenants that limit the Company's ability to, among other things, incur certain liens securing indebtedness, engage in certain sale-leaseback transactions, and enter into certain consolidations, mergers, conveyances, transfers or leases of all or substantially all the Company's assets. The terms of the 4.5% Senior Notes also require the Company to make an offer to repurchase 4.5% Senior Notes upon a change of control triggering event (as defined in the Indenture) at a price equal to 101% of their principal amount plus accrued and unpaid interest, if any. On April 15, 2010, the Company entered into a forward starting interest rate contract with a notional amount of $300.0 million with a settlement date in December 2010. This contract was entered into in anticipation of the issuance of the 4.5% Senior Notes and was designed to lock in the market interest rate as of April 15, 2010. The Company settled this interest rate contract in December 2010, resulting in a $31.0 million payment. The $31.0 million is being amortized into interest expense over the 10 year term of the 4.5% Senior Notes, which results in an effective interest rate of 5.8%. There are two key financial covenants that the Company is required to maintain in connection with the Revolving Facility, Term Loan, and 2.58% Senior Euro Notes. There are no financial covenants relating to the 4.5% Senior Notes. The most restrictive financial covenants under these debt instruments require a minimum interest coverage ratio of 3.0 to 1 and a maximum leverage ratio of 3.25 to 1. At June 30, 2011, the Company was in compliance with both of these financial covenants. |
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Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative Instruments
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Jun. 30, 2011
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| Derivative Instruments |
The Company enters into cash flow hedges to reduce the exposure to variability in certain expected future cash flows. The type of cash flow hedges the Company enters into includes foreign currency contracts and interest rate exchange agreements that effectively convert a portion of floating-rate debt to fixed-rate debt and are designed to reduce the impact of interest rate changes on future interest expense. The effective portion of gains or losses on interest rate exchange agreements is reported in accumulated other comprehensive income (loss) in shareholders' equity and reclassified into net income in the same period or periods in which the hedged transaction affects net income. The remaining gain or loss in excess of the cumulative change in the present value of future cash flows or the hedged item, if any, is recognized into net income during the period of change. Fair values relating to derivative financial instruments reflect the estimated amounts that the Company would receive or pay to sell or buy the contracts based on quoted market prices of comparable contracts at each balance sheet date. At June 30, 2011, the Company had one interest rate exchange agreement. The interest rate exchange agreement, expiring in December 2011, with a current notional amount of $82.0 million, effectively converted $100.0 million of floating-rate debt into fixed-rate debt at an interest rate of 4.00%. The fixed rate consists of the fixed rate on the interest rate exchange agreements and the Company's current margin of 80 basis points on the Term Loan. Approximately $4.7 million of the gross amount included in accumulated other comprehensive income (loss) in shareholders' equity at June 30, 2011 will be recognized to net income over the next 12 months as the underlying hedged transactions are realized. The $4.7 million is comprised of $1.2 million from the interest rate agreement and $3.5 million from the forward starting interest rate contract settled in December 2010 (see Note 10). On May 31, 2011, the Company settled foreign currency exchange contracts with an aggregate notional amount of $0.5 million; the impact of this settlement was immaterial. The following table sets forth the fair value amounts of derivative instruments held by the Company as of June 30, 2011 and December 31, 2010:
The following table summarizes the gain (loss) recognized and the amounts and location of income (expense) and gain (loss) reclassified into income for interest rate contracts and foreign currency contracts for June 30, 2011 and 2010:
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- Definition
This element can be used to disclose the entity's entire derivative instruments and hedging activities disclosure as a single block of text. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising there from, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2011
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| Fair Value Measurements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements |
ASC 820 "Fair Value Measurements and Disclosures" defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The standard utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:
The following table summarizes the basis used to measure the Company's financial assets and (liabilities) at fair value on a recurring basis in the balance sheet at June 30, 2011 and December 31, 2010:
There were no transfers of assets or liabilities between Level 1 and Level 2 during the first six months in 2011 or 2010. In determining the fair value of the Company's interest rate exchange agreement derivatives, the Company used a present value of expected cash flows based on market observable interest rate yield curves commensurate with the term of each instrument and the credit default swap market to reflect the credit risk of either the Company or the counterparty. In determining the fair value of the Company's contingent consideration, the Company used a probability weighted estimate based on an independent appraisal, adjusted for the time value of money. The carrying value of our cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximates their fair values because of the short term nature of these instruments. At June 30, 2011, the fair value of our Revolving Facility, Term Loan, 2.58% Senior Euro Notes and 4.5% Senior Notes, based on quoted market prices and current market rates for debt with similar credit risk and maturity, was approximately $834.1 million compared to the carrying value of $871.3 million. |
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- Details
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- Definition
This item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Common And Preferred Stock
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6 Months Ended | ||
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Jun. 30, 2011
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| Common And Preferred Stock | |||
| Common And Preferred Stock |
At June 30, 2011 and December 31, 2010, the Company had 150 million shares of authorized common stock, with a par value of $.01 per share, and 5 million shares of authorized preferred stock, with a par value of $.01 per share. No preferred stock was issued at June 30, 2011 and December 31, 2010. |
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- Details
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| X | ||||||||||
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- Definition
Common and Preferred Stock. No definition available.
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Share-Based Compensation
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2011
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| Share-Based Compensation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Compensation |
During the six months ended June 30, 2011, the Company granted approximately 0.7 million stock options and 0.2 million unvested shares, respectively. During the six months ended June 30, 2010, the Company granted approximately 0.9 million stock options and 0.3 million unvested shares, respectively. Weighted average option fair values and assumptions for the periods specified are disclosed in the following table:
The assumptions are as follows:
The Company's policy is to recognize compensation cost on a straight-line basis over the requisite service period for the entire award. Additionally, the Company's general policy is to issue authorized and unissued shares of common stock to satisfy stock option exercises or grants of unvested shares. Total compensation cost for the stock options is as follows:
Total compensation cost for the unvested shares is as follows:
Classification of stock compensation cost within the Consolidated Statements of Operations is consistent with classification of cash compensation for the same employees and $0.1 million of compensation cost was capitalized as part of inventory. As of June 30, 2011, there was $13.6 million of total unrecognized compensation cost related to stock options that is expected to be recognized over a weighted-average period of 1.5 years, and $12.0 million of total unrecognized compensation cost related to unvested shares that is expected to be recognized over a weighted-average period of 1.2 years. |
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- Definition
Disclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Retirement Benefits
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2011
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| Retirement Benefits | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits |
The Company sponsors several qualified and nonqualified defined benefit and defined contribution pension plans and other postretirement plans for its employees. The following tables provide the components of net periodic benefit cost for its major defined benefit plans and its other postretirement plans.
The Company previously disclosed in its financial statements for the year ended December 31, 2010, that it expected to contribute approximately $7.9 million to its pension plans and $1.0 million to its other postretirement benefit plans in 2011. As of June 30, 2011, $4.8 million of contributions have been made to its pension plans and $0.4 million have been made to its other postretirement benefit plans. The Company presently anticipates contributing up to an additional $3.7 million in 2011 to fund its pension plans and other postretirement benefit plans.
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- Details
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- Definition
Description containing the entire pension and other postretirement benefits disclosure as a single block of text. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Legal Proceedings
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6 Months Ended | ||
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Jun. 30, 2011
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| Legal Proceedings | |||
| Legal Proceedings |
The Company is party to various legal proceedings arising in the ordinary course of business, none of which are expected to have a material adverse effect on its business, financial condition, results of operations or cash flows.
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- Details
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| X | ||||||||||
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- Definition
Includes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes
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6 Months Ended | ||
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Jun. 30, 2011
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| Income Taxes | |||
| Income Taxes |
The Company's provision for income taxes is based upon estimated annual tax rates for the year applied to federal, state and foreign income. The provision for income taxes increased to $23.1 million in the second quarter of 2011 from $19.0 million in the second quarter of 2010. The effective tax rate decreased to 31.5% for the second quarter of 2011 compared to 32.0% in the second quarter of 2010 due to the mix of global pre-tax income among jurisdictions. The provision for income taxes increased to $45.5 million in the first six months of 2011 from $37.1 million in the same period of 2010. The effective tax rate decreased to 31.7% for the first six months of 2011 compared to 32.5% in the same period of 2010 due to the mix of global pre-tax income among jurisdictions. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. Due to the potential for resolution of federal, state and foreign examinations, and the expiration of various statutes of limitation, it is reasonably possible that the Company's gross unrecognized tax benefits balance may change within the next twelve months by a range of zero to $0.9 million. |
| X | ||||||||||
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- Definition
Description containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Comprehensive Income
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Jun. 30, 2011
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| Comprehensive Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Comprehensive Income |
The components of comprehensive income (loss) are as follows:
Foreign currency translation adjustments are generally not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries.
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- Details
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| X | ||||||||||
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- Definition
This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events
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6 Months Ended | ||
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Jun. 30, 2011
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| Subsequent Events | |||
| Subsequent Events |
On July 12, 2011, the Company entered into a forward starting interest rate contract with a notional amount of $350.0 million and a settlement date of September 30, 2011 whereby the Company will pay fixed interest and will receive floating rate interest based on LIBOR through the termination date of September 30, 2021. This contract was entered into in anticipation of the expected issuance of new debt during the third quarter of 2011 and is designed to lock in the market interest rate as of July 12, 2011. |
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- Details
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- Definition
Subsequent Events [Text Block] No definition available.
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Restructuring (Tables)
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3 Months Ended | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2010
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Jun. 30, 2011
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Jun. 30, 2010
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| Schedule Of Pre-tax Restructuring Expenses By Segment |
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| Schedule Of Restructuring Accruals Expenses |
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- Definition
Schedule Of Pre Tax Restructuring Expenses By Segment No definition available.
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- Details
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- Definition
Disclosure of changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisitions (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2011
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| Acquisitions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Allocation Of Acquisition Costs To Assets Acquired And Liabilities Assumed |
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| Pro Forma Information |
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- Details
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- Definition
Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination. No definition available.
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- Definition
Pro Forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. This element may be used as a single block of text to encapsulate all disclosures regarding the pro forma results of the combined entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Business Segments (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2011
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| Business Segments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Information On The Company's Business Segments |
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| Schedule Of Assets |
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- Definition
This element may be used to capture the complete disclosure for the identification, description, and amounts of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element may be used to capture the complete disclosure about the profit or loss and total assets for each reportable segment, as a single block of text. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Common Share (Tables)
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2011
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| Schedule Of Basic Weighted Average Shares Reconciles To Diluted Weighted Average Shares |
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| X | ||||||||||
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- Definition
Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). No definition available.
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- Details
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Inventories (Tables)
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2011
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| Components Of Inventories |
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| X | ||||||||||
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- Definition
Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. No definition available.
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| X | ||||||||||
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- Details
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Goodwill And Intangible Assets (Tables)
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2011
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| Goodwill And Intangible Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Changes In The Carrying Amount Of Goodwill |
|
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| Schedule Of Gross Carrying Value And Accumulated Amortization For Each Major Class Of Intangible Asset |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Schedule Of Gross Carrying Value And Accumulated Amortization For Each Major Class Of Intangible Asset Table Text Block No definition available.
|
| X | ||||||||||
|
- Definition
The carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill during the period in total and for each reportable segment. At least annually, an Entity must evaluate its goodwill for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Accrued Expenses (Tables)
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2011
|
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| Accrued Expenses | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components Of Accrued Expenses |
|
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| X | ||||||||||
|
- Definition
Schedule Of Accrued Liabilities [Table Text Block] No definition available.
|
| X | ||||||||||
|
- Details
|
|
Other Noncurrent Liabilities (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2011
|
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| Other Noncurrent Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Other Noncurrent Liabilities |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Schedule Of Other Noncurrent Liabilities [Table Text Block] No definition available.
|
| X | ||||||||||
|
- Details
|
|
Borrowings (Tables)
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Jun. 30, 2011
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| Borrowings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Borrowings |
|
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Borrowings. No definition available.
|
|
Derivative Instruments (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2011
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| Derivative Instruments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Fair Value Amounts Of Derivative Instruments |
|
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| Schedule Of Net Change Recognized And The Amounts And Location Of Income (Expense) And Gain (Loss) Reclassified Into Income For Interest Rate Contracts And Foreign Currency Contracts |
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Schedule of the location and amount of gains and losses reported in the statement of financial performance (or when applicable, the statement of financial position, for example, gains and losses initially recognized in other comprehensive income) on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
This element can be used as an alternative for disclosing the entity's tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position as a single block of text. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value Measurements (Tables)
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Jun. 30, 2011
|
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| Fair Value Measurements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Company's Financial Assets And (Liabilities) At Fair Value On A Recurring Basis |
|
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| X | ||||||||||
|
- Definition
Company's financial assets and liabilities at fair value on a recurring basis. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Share-Based Compensation (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2011
|
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| Schedule Of Weighted Average Option Fair Values And Assumptions |
|
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|
Stock Options [Member]
|
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| Schedule Of Compensation Cost For Stock Options And Unvested Shares |
|
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Unvested Shares [Member]
|
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| Schedule Of Compensation Cost For Stock Options And Unvested Shares |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Schedule compensation cost for stock options and unvested shares. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. No definition available.
|
|
Retirement Benefits (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Jun. 30, 2011
|
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|
Pension Plans [Member]
|
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| Components Of Net Periodic Benefit Cost For Defined Benefit Plans And Other Postretirement Plans |
|
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|
Other Postretirement Benefit Plans [Member]
|
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| Components Of Net Periodic Benefit Cost For Defined Benefit Plans And Other Postretirement Plans |
|
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| X | ||||||||||
|
- Definition
Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. No definition available.
|
|
Comprehensive Income (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Jun. 30, 2011
|
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| Comprehensive Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components Of Comprehensive Income |
|
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| X | ||||||||||
|
- Definition
Comprehensive Income net of tax. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Restructuring (Narrative) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2010
|
Jun. 30, 2010
|
Jun. 30, 2011
|
Dec. 31, 2010
|
|
| Restructuring | ||||
| Pre-tax restructuring expenses related to 2009 restructuring initiative | $ 1,031 | $ 2,898 | ||
| Restructuring accruals | $ 1,041 | $ 3,543 |
| X | ||||||||||
|
- Definition
Amount charged against earnings in the period for incurred and estimated costs, excluding asset retirement obligations, associated with exit from or disposal of business activities or restructurings pursuant to a program that is planned and controlled by management, and materially changes either the scope of a business undertaken by an entity, or the manner in which that business is conducted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination and to asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Restructuring (Schedule Of Pre-tax Restructuring Expenses By Segment) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended |
|---|---|---|
|
Jun. 30, 2010
|
Jun. 30, 2010
|
|
| Severance Costs | $ 827 | $ 2,550 |
| Exit Costs | 204 | 348 |
| Total restructuring costs | 1,031 | 2,898 |
|
Fluid & Metering Technologies [Member]
|
||
| Severance Costs | 360 | 711 |
| Exit Costs | 184 | 202 |
| Total restructuring costs | 544 | 913 |
|
Health & Science Technologies [Member]
|
||
| Severance Costs | 337 | 846 |
| Exit Costs | 54 | |
| Total restructuring costs | 337 | 900 |
|
Dispensing Equipment [Member]
|
||
| Severance Costs | 5 | 120 |
| Exit Costs | ||
| Total restructuring costs | 5 | 120 |
|
Fire & Safety/Diversified Products [Member]
|
||
| Severance Costs | 125 | 477 |
| Exit Costs | ||
| Total restructuring costs | 125 | 477 |
|
Corporate Office And Other [Member]
|
||
| Severance Costs | 396 | |
| Exit Costs | 20 | 92 |
| Total restructuring costs | $ 20 | $ 488 |
| X | ||||||||||
|
- Definition
The charge against earnings in the period, comprised of costs incurred associated with an exit or disposal activity other than for a discontinued operations as defined under generally accepted accounting principles. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, and relocating employees, and costs associated with an ongoing benefit arrangement, but excludes costs associated with the retirement of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount charged against earnings in the period for incurred and estimated costs, excluding asset retirement obligations, associated with exit from or disposal of business activities or restructurings pursuant to a program that is planned and controlled by management, and materially changes either the scope of a business undertaken by an entity, or the manner in which that business is conducted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The charge against earnings in the period for known and estimated costs of termination benefits provided to current employees that are involuntarily terminated under a benefit arrangement associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination or a discontinued operation as defined by generally accepted accounting principles and costs associated with one-time termination benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Restructuring (Schedule Of Restructuring Accruals Expenses) (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended |
|---|---|
|
Jun. 30, 2011
|
|
| Restructuring | |
| Balance at January 1, 2011 | $ 3,543 |
| Payments/Utilization | (2,502) |
| Balance at June 30, 2011 | $ 1,041 |
| X | ||||||||||
|
- Definition
Restructuring reserve payments utilization. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination and to asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisitions (Narrative) (Details) (USD $)
|
3 Months Ended | 6 Months Ended | 1 Months Ended | 0 Months Ended | 0 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2011
|
Jan. 20, 2011
Advanced Thin Films, LLC [Member]
|
Jun. 30, 2011
Advanced Thin Films, LLC [Member]
|
Mar. 11, 2011
Microfluidics International Corporation [Member]
|
Jun. 30, 2011
Microfluidics International Corporation [Member]
|
Jun. 10, 2011
CVI Melles Griot [Member]
|
Jun. 30, 2011
CVI Melles Griot [Member]
|
Jan. 20, 2011
Minimum [Member]
|
Jan. 20, 2011
Maximum [Member]
|
Jun. 30, 2011
Trade Names [Member]
|
Jun. 30, 2011
Other intangible assets [Member]
|
|
| Annual revenues of acquired entity | $ 9,000,000 | $ 16,000,000 | $ 185,000,000 | |||||||||
| Aggregate purchase price | 34,500,000 | 18,500,000 | 397,100,000 | |||||||||
| Purchase price paid in cash | 31,800,000 | 395,700,000 | ||||||||||
| Contingent consideration | 2,700,000 | 0 | 3,000,000 | |||||||||
| Assumption of debt | 1,400,000 | |||||||||||
| Cash payment financed with borrowings under Company's revolving credit facility | 365,000,000 | |||||||||||
| Goodwill recognized in acquisition | 220,565,000 | 220,565,000 | 16,687,000 | 4,420,000 | 199,458,000 | |||||||
| Intangible assets | 135,426,000 | 135,426,000 | 11,435,000 | 9,717,000 | 114,274,000 | 47,000,000 | 88,400,000 | |||||
| Goodwill deductible for tax purpose | 16,700,000 | 116,600,000 | ||||||||||
| Goodwill not deductible for tax purposes | 4,400,000 | |||||||||||
| Acquired intangible assets amortization life, minimum | 2 | |||||||||||
| Acquired intangible assets amortization life, maximum | 15 | |||||||||||
| Acquisition related transaction costs | 5,300,000 | 5,300,000 | ||||||||||
| Pre-tax acquistionfair value inventory charges and adjustments | 3,000,000 | 16,400,000 | ||||||||||
| Pre-tax acquisition-related costs | $ 6,400,000 | $ 11,200,000 | ||||||||||
| X | ||||||||||
|
- Definition
Business Acquisition Purchase Price Allocation Goodwill Expected Non Tax Deductible Amount No definition available.
|
| X | ||||||||||
|
- Definition
Pre-tax acquisition-related costs No definition available.
|
| X | ||||||||||
|
- Definition
Pre-tax acquistionfair value inventory charges and adjustments No definition available.
|
| X | ||||||||||
|
- Definition
Amount of potential cash payments that could result from the contingent consideration arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash paid to acquire the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair Value of the liabilities incurred by the acquirer to former owners of the acquiree, including the fair value of any contingent consideration. If liabilities transferred as consideration remain within the combined entity after the business combination (for example, because the assets or liabilities were transferred to the acquiree rather than to its former owners), and the acquirer therefore retains control of them; in that situation, the acquirer shall measure those liabilities at their carrying amounts immediately before the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of direct costs of the business combination including legal, accounting, and other costs incurred to consummate the business acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to an identifiable intangible asset that will be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of goodwill arising from a business combination, which is the excess of the cost of the acquired entity over the amounts assigned to assets acquired and liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of goodwill arising from a business combination that is expected to be deductible for tax purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total revenue reported by the acquired entity for its previous full fiscal year before the business acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The maximum useful life of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar either by their nature or by their use in the operations of a company. No definition available.
|
| X | ||||||||||
|
- Definition
The minimum useful life of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar either by their nature or by their use in the operations of a company. No definition available.
|
| X | ||||||||||
|
- Definition
Borrowings from a revolving loan facility used to finance leveraged buyout transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisitions (Schedule Of Allocation Of Acquisition Costs To Assets Acquired And Liabilities Assumed) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2011
|
|---|---|
| Accounts receivable | $ 27,278 |
| Inventory | 62,035 |
| Other current assets, net of cash acquired | 6,748 |
| Property, plant and equipment | 45,961 |
| Goodwill | 220,565 |
| Intangible assets | 135,426 |
| Other assets | 3,889 |
| Total assets acquired | 501,902 |
| Total liabilities assumed | (53,131) |
| Net assets acquired | 448,771 |
|
Advanced Thin Films, LLC [Member]
|
|
| Accounts receivable | 947 |
| Inventory | 852 |
| Other current assets, net of cash acquired | 73 |
| Property, plant and equipment | 5,019 |
| Goodwill | 16,687 |
| Intangible assets | 11,435 |
| Total assets acquired | 35,013 |
| Total liabilities assumed | (527) |
| Net assets acquired | 34,486 |
|
Microfluidics International Corporation [Member]
|
|
| Accounts receivable | 1,760 |
| Inventory | 2,226 |
| Other current assets, net of cash acquired | 1,129 |
| Property, plant and equipment | 567 |
| Goodwill | 4,420 |
| Intangible assets | 9,717 |
| Other assets | 1,915 |
| Total assets acquired | 21,734 |
| Total liabilities assumed | (3,200) |
| Net assets acquired | 18,534 |
|
CVI Melles Griot [Member]
|
|
| Accounts receivable | 24,571 |
| Inventory | 58,957 |
| Other current assets, net of cash acquired | 5,546 |
| Property, plant and equipment | 40,375 |
| Goodwill | 199,458 |
| Intangible assets | 114,274 |
| Other assets | 1,974 |
| Total assets acquired | 445,155 |
| Total liabilities assumed | (49,404) |
| Net assets acquired | $ 395,751 |
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to an identifiable intangible asset that will be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to assets acquired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total purchase price of the acquired entity. This includes cash paid to equity interest holders of the acquired entity, fair value of debt and equity securities issued to equity holders of the acquired entity, and transaction costs paid to third parties to consummate the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to inventory, including finished goods, work-in-process, and raw materials. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to prepaid expenses and other current assets. Does not include amounts allocated to cash and cash equivalents, marketable securities, receivables, inventory, and assets not to be used. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of goodwill arising from a business combination, which is the excess of the cost of the acquired entity over the amounts assigned to assets acquired and liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to noncurrent assets of the acquired entity, except for property plant and equipment, intangible assets, and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to property, plant and equipment to be used in ongoing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisitions (Pro Forma Information) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
| Acquisitions | ||||
| Net sales, Pro forma | $ 486,895 | $ 426,364 | $ 963,031 | $ 827,526 |
| Net income, Pro forma | $ 50,810 | $ 39,032 | $ 99,875 | $ 66,406 |
| Diluted earnings per share, Pro forma | $ 0.61 | $ 0.48 | $ 1.19 | $ 0.81 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. No definition available.
|
| X | ||||||||||
|
- Definition
The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Business Segments (Schedule Of Information On The Company's Business Segments) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
| Total net sales | $ 453,798 | $ 378,526 | $ 880,887 | $ 734,124 |
| Total operating income | 79,629 | 62,780 | 157,350 | 120,673 |
| Interest expense | 6,720 | 3,599 | 13,174 | 7,033 |
| Other income (expense) - net | 347 | 239 | (560) | 493 |
| Income before income taxes | 73,256 | 59,420 | 143,616 | 114,133 |
|
Fluid & Metering Technologies [Member]
|
||||
| External customers | 205,155 | 168,614 | 400,288 | 335,554 |
| Intersegment sales | 96 | 189 | 236 | 357 |
| Total net sales | 205,251 | 168,803 | 400,524 | 335,911 |
| Total operating income | 40,288 | 29,461 | 80,525 | 60,450 |
|
Health & Science Technologies [Member]
|
||||
| External customers | 143,719 | 104,886 | 277,033 | 196,637 |
| Intersegment sales | 400 | 1,345 | 721 | 2,885 |
| Total net sales | 144,119 | 106,231 | 277,754 | 199,522 |
| Total operating income | 28,065 | 21,209 | 59,179 | 40,912 |
|
Dispensing Equipment [Member]
|
||||
| External customers | 36,002 | 41,102 | 67,987 | 74,640 |
| Intersegment sales | 144 | 33 | 317 | 49 |
| Total net sales | 36,146 | 41,135 | 68,304 | 74,689 |
| Total operating income | 10,377 | 9,712 | 16,016 | 16,351 |
|
Fire & Safety/Diversified Products [Member]
|
||||
| External customers | 68,922 | 63,924 | 135,579 | 127,293 |
| Intersegment sales | 124 | 67 | 196 | 99 |
| Total net sales | 69,046 | 63,991 | 135,775 | 127,392 |
| Total operating income | 16,488 | 13,916 | 31,991 | 26,987 |
|
Intersegment Elimination [Member]
|
||||
| Total net sales | (764) | (1,634) | (1,470) | (3,390) |
|
Corporate Office And Other [Member]
|
||||
| Total operating income | $ (15,589) | $ (11,518) | $ (30,361) | $ (24,027) |
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The net amount of other nonoperating income and expense, which does not qualify for separate disclosure on the income statement under materiality guidelines. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue from transactions with other operating segments of the same entity. Must be disclosed if the amount (a) is included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) is otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue from external customers for the reportable segment. Must be disclosed if the amounts (a) is included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) is otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Business Segments (Schedule Of Assets) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2011
|
Dec. 31, 2010
|
||||
|---|---|---|---|---|---|---|
| Total assets | $ 2,923,320 | $ 2,381,695 | ||||
|
Fluid & Metering Technologies [Member]
|
||||||
| Total assets | 1,081,447 | 1,040,601 | ||||
|
Health & Science Technologies [Member]
|
||||||
| Total assets | 1,235,207 | 718,884 | ||||
|
Dispensing Equipment [Member]
|
||||||
| Total assets | 261,742 | 205,540 | ||||
|
Fire & Safety/Diversified Products [Member]
|
||||||
| Total assets | 290,704 | 278,567 | ||||
|
Corporate Office And Other [Member]
|
||||||
| Total assets | $ 54,220 | [1] | $ 138,103 | [1] | ||
|
||||||
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings Per Common Share (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
| Earnings Per Common Share | ||||
| Reduction in net income attributable to common shareholders | $ 0.4 | $ 0.4 | $ 0.8 | $ 0.7 |
| Option to purchase common stock shares not included in the computation of diluted EPS | 0.7 | 2.4 | 0.7 | 2.4 |
| X | ||||||||||
|
- Definition
Amount of reduction in net income attributable to common shareholders. No definition available.
|
| X | ||||||||||
|
- Definition
Antidilutive securities excluded from computation of earning per share amount. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Earnings Per Common Share (Schedule Of Basic Weighted Average Shares Reconciles To Diluted Weighted Average Shares) (Details)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
| Earnings Per Common Share | ||||
| Basic weighted average common shares outstanding | 82,151 | 80,369 | 81,790 | 80,225 |
| Dilutive effect of stock options, unvested shares, and DCUs | 1,627 | 1,431 | 1,717 | 1,430 |
| Diluted weighted average common shares outstanding | 83,778 | 81,800 | 83,507 | 81,655 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The sum of dilutive potential common shares used in the calculation of the diluted per-share computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Inventories (Components Of Inventories) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Inventories | ||
| Raw materials and component parts | $ 154,316 | $ 126,901 |
| Work-in-process | 51,798 | 23,164 |
| Finished goods | 76,267 | 46,481 |
| Total | $ 282,381 | $ 196,546 |
| X | ||||||||||
|
- Definition
Inventory raw materials and component parts. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of merchandise or goods which are partially completed, are generally comprised of raw materials, labor and factory overhead costs, and which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Goodwill And Intangible Assets (Schedule Of Changes In The Carrying Amount Of Goodwill) (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | |||
|---|---|---|---|---|
|
Jun. 30, 2011
|
||||
| Balance at December 31, 2010 | $ 1,207,001 | [1] | ||
| Acquisition adjustments | 286 | |||
| Foreign currency translation | 23,136 | |||
| Acquisitions | 220,565 | |||
| Balance at June 30, 2011 | 1,450,988 | |||
|
Fluid & Metering Technologies [Member]
|
||||
| Balance at December 31, 2010 | 523,766 | [1] | ||
| Foreign currency translation | 10,049 | |||
| Balance at June 30, 2011 | 533,815 | |||
|
Health & Science Technologies [Member]
|
||||
| Balance at December 31, 2010 | 439,415 | [1] | ||
| Acquisition adjustments | 286 | |||
| Foreign currency translation | 1,744 | |||
| Acquisitions | 220,565 | |||
| Balance at June 30, 2011 | 662,010 | |||
|
Dispensing Equipment [Member]
|
||||
| Balance at December 31, 2010 | 98,780 | [1] | ||
| Foreign currency translation | 6,634 | |||
| Balance at June 30, 2011 | 105,414 | |||
|
Fire & Safety/Diversified Products [Member]
|
||||
| Balance at December 31, 2010 | 145,040 | [1] | ||
| Foreign currency translation | 4,709 | |||
| Balance at June 30, 2011 | $ 149,749 | |||
|
||||
| X | ||||||||||
|
- Definition
Purchase accounting adjustments needed to revise the carrying amount of goodwill to fair value. No definition available.
|
| X | ||||||||||
|
- Definition
The increase (decrease) to the recorded value of goodwill for foreign currency translation adjustments. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid, adjusted for any amortization recognized prior to adoption of FAS 142 and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of goodwill acquired in the period and allocated to the reportable segment. The value is stated at fair value based on the purchase price allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Goodwill And Intangible Assets (Schedule Of Gross Carrying Value And Accumulated Amortization For Each Major Class of Intangible Asset) ( Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | |
|---|---|---|
|
Jun. 30, 2011
|
Dec. 31, 2010
|
|
| Amortizable intangible assets, gross carrying amount | $ 394,810 | $ 301,264 |
| Amortizable intangible assets, accumulated amortization | (97,578) | (81,972) |
| Amortizable intangible assets, net | 297,232 | 219,292 |
| Intangible assets - net | 406,340 | 281,392 |
| Intangible asset gross, excluding goodwill | 503,918 | 363,364 |
| Intangible asset accumulated amortization | (97,578) | (81,972) |
|
Patents [Member]
|
||
| Amortizable intangible assets, gross carrying amount | 11,433 | 9,906 |
| Amortizable intangible assets, accumulated amortization | (3,898) | (5,052) |
| Amortizable intangible assets, net | 7,535 | 4,854 |
| Amortizable intangible assets, weighted average life | 12 | |
|
Trade Names [Member]
|
||
| Amortizable intangible assets, gross carrying amount | 74,649 | 69,043 |
| Amortizable intangible assets, accumulated amortization | (16,368) | (13,769) |
| Amortizable intangible assets, net | 58,281 | 55,274 |
| Amortizable intangible assets, weighted average life | 15 | |
|
Customer Relationships [Member]
|
||
| Amortizable intangible assets, gross carrying amount | 225,310 | 169,065 |
| Amortizable intangible assets, accumulated amortization | (58,561) | (47,686) |
| Amortizable intangible assets, net | 166,749 | 121,379 |
| Amortizable intangible assets, weighted average life | 10 | |
|
Non-Compete Agreements [Member]
|
||
| Amortizable intangible assets, gross carrying amount | 4,886 | 4,087 |
| Amortizable intangible assets, accumulated amortization | (3,752) | (3,501) |
| Amortizable intangible assets, net | 1,134 | 586 |
| Amortizable intangible assets, weighted average life | 4 | |
|
Unpatented Technology [Member]
|
||
| Amortizable intangible assets, gross carrying amount | 72,570 | 43,206 |
| Amortizable intangible assets, accumulated amortization | (12,137) | (9,407) |
| Amortizable intangible assets, net | 60,433 | 33,799 |
| Amortizable intangible assets, weighted average life | 11 | |
|
Other Amortizable Intangible Assets Member
|
||
| Amortizable intangible assets, gross carrying amount | 5,962 | 5,957 |
| Amortizable intangible assets, accumulated amortization | (2,862) | (2,557) |
| Amortizable intangible assets, net | 3,100 | 3,400 |
| Amortizable intangible assets, weighted average life | 10 | |
|
Banjo Trade Name [Member]
|
||
| Indefinite lived intangible assets, gross carrying amount | 62,100 | 62,100 |
| Indefinite lived intangible assets, net | 62,100 | 62,100 |
|
CVI Melles Griot Trade Name [Member]
|
||
| Indefinite lived intangible assets, gross carrying amount | 47,008 | |
| Indefinite lived intangible assets, net | $ 47,008 |
| X | ||||||||||
|
- Definition
Indefinite Lived Intangible Assets Gross Carrying Amount No definition available.
|
| X | ||||||||||
|
- Definition
Intangible Asset Accumulated Amortization No definition available.
|
| X | ||||||||||
|
- Definition
Intangible Assets Gross Excluding Goodwill No definition available.
|
| X | ||||||||||
|
- Definition
The accumulated amount of amortization of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average useful life of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar either by their nature or by their use in the operations of a company. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the gross carrying amounts before accumulated amortization as of the balance sheet date of all intangible assets having statutory or estimated useful lives. The aggregate gross carrying amount (including any previously recognized impairment charges) of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts (original costs for current and prior period additions adjusted for impairment, if any) as of the balance sheet date of intangible assets, excluding goodwill, having a projected indefinite period of benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Accrued Expenses (Components Of Accrued Expenses) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Accrued Expenses | ||
| Payroll and related items | $ 54,243 | $ 46,937 |
| Management incentive compensation | 9,363 | 19,985 |
| Income taxes payable | 11,255 | 6,126 |
| Deferred income taxes | 33 | 723 |
| Insurance | 5,231 | 5,544 |
| Warranty | 4,710 | 3,831 |
| Deferred revenue | 9,638 | 7,172 |
| Restructuring | 1,041 | 3,543 |
| Interest rate exchange agreement | 1,161 | 2,328 |
| Liability for uncertain tax positions | 1,484 | 1,647 |
| Accrued interest | 807 | 1,101 |
| Contingent consideration for acquisition | 1,394 | |
| Other | 22,534 | 18,942 |
| Total accrued expenses | $ 122,894 | $ 117,879 |
| X | ||||||||||
|
- Definition
Management incentive compensation current. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable to insurance entities to mitigate potential loss from various risks or to satisfy a promise to provide certain coverage's to employees. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to accrued expenses of the acquired entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the current portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A current taxable temporary difference is a difference between the tax basis and the carrying amount of a current asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current portion of the amount recognized for uncertain tax positions as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers. For classified balance sheets, represents the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of known and estimated obligations associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination, which are expected to be paid in the next twelve months or in the normal operating cycle if longer. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, and relocating employees, and costs associated with an ongoing benefit arrangement, but excludes costs associated with the retirement of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Other Noncurrent Liabilities (Schedule Of Other Noncurrent Liabilities) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Other Noncurrent Liabilities | ||
| Pension and retiree medical obligations | $ 79,847 | $ 74,559 |
| Liability for uncertain tax positions | 4,864 | 5,912 |
| Deferred revenue | 3,658 | 4,225 |
| Other | 10,248 | 10,687 |
| Total other noncurrent liabilities | $ 98,617 | $ 95,383 |
| X | ||||||||||
|
- Definition
The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The noncurrent portion of the amount recognized for uncertain tax positions as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Obligations not otherwise itemized or previously categorized that are due beyond one year (or operating cycle, if longer) from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This represents the noncurrent liability recognized in the balance sheet that is associated with the defined benefit pension plans and other postretirement and postemployment benefit plans. (The current liability will be separate, but it will normally be small, if there is even any at all.) Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Borrowings (Narrative) (Details)
|
0 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 6 Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 06, 2010
USD ($)
|
Jun. 30, 2011
USD ($)
|
Jun. 30, 2011
USD ($)
|
Dec. 31, 2011
|
Jul. 15, 2011
USD ($)
|
Jun. 27, 2011
|
Apr. 15, 2010
USD ($)
|
Jun. 09, 2010
2.58% Senior Euro Notes [Member]
USD ($)
|
Jun. 09, 2010
2.58% Senior Euro Notes [Member]
EUR (€)
|
Jun. 30, 2011
2.58% Senior Euro Notes [Member]
|
Dec. 06, 2010
4.5 % Senior Notes [Member]
USD ($)
|
Apr. 15, 2010
4.5 % Senior Notes [Member]
USD ($)
years
|
Jun. 30, 2011
4.5 % Senior Notes [Member]
|
Jun. 30, 2011
IDEX UK Ltd [Member]
USD ($)
|
Jun. 30, 2011
IDEX UK Ltd [Member]
GBP (£)
|
Jun. 30, 2011
Fluid Management Europe B.V.,[Member]
USD ($)
|
Jun. 30, 2011
Letters of Credit [Member]
USD ($)
|
Jun. 30, 2011
Swing Line Loans [Member]
USD ($)
|
Jun. 30, 2011
Term Loan [Member]
USD ($)
|
Apr. 18, 2008
Term Loan [Member]
USD ($)
|
Jun. 30, 2011
Minimum [Member]
|
Apr. 15, 2010
Minimum [Member]
|
Jun. 30, 2011
Maximum [Member]
|
Apr. 15, 2010
Maximum [Member]
|
|
| Revolving facility closing date | June 27, 2011 | |||||||||||||||||||||||
| Replaced credit facility due to expire | $ 600,000,000 | $ 600,000,000 | ||||||||||||||||||||||
| Replaced credit facility expiration date | December 2011 | December 2011 | ||||||||||||||||||||||
| Revolving facility principal amount | 700,000,000 | 75,000,000 | 25,000,000 | |||||||||||||||||||||
| Revolving facility expiration date | June 27, 2016 | |||||||||||||||||||||||
| Aggregate commitments of designated borrowers under the Credit Facility | 950,000,000 | 950,000,000 | ||||||||||||||||||||||
| Current borrowings under revolving facility | 19,200,000 | 12,000,000 | 0 | 7,000,000 | ||||||||||||||||||||
| Applicable margin over LIBOR | 1.05% | 1.05% | 0.875% | 1.70% | ||||||||||||||||||||
| Annual credit facility fee basis point rate spread over LIBOR | 20 | 20 | ||||||||||||||||||||||
| Net available borrowing under Revolving Facility | 318,800,000 | 318,800,000 | ||||||||||||||||||||||
| Unsecured senior bank term loan agreement amount | 100,000,000 | |||||||||||||||||||||||
| Current amount outstanding of unsecured senior bank term loan | 82,000,000 | |||||||||||||||||||||||
| Senior unsecured long term debt basis point spread over LIBOR, minimum | 45 | |||||||||||||||||||||||
| Senior unsecured long term debt basis point spread over LIBOR, maximum | 100 | |||||||||||||||||||||||
| Applicable margin, basis point spread over LIBOR | 80 | |||||||||||||||||||||||
| Interest rate exchange agreement expiration date | December 2011 | December 2011 | December 2011 | |||||||||||||||||||||
| Notional amount | 82,000,000 | 82,000,000 | ||||||||||||||||||||||
| Floating-rate debt converted into fixed-rate debt | 100,000,000 | 100,000,000 | ||||||||||||||||||||||
| Interest rate | 4.00% | |||||||||||||||||||||||
| Current margin, basis point spread over LIBOR | 80 | |||||||||||||||||||||||
| Principal amount of private placement | 96,800,000 | 81,000,000 | ||||||||||||||||||||||
| Stated interest rate | 2.58% | 2.58% | 4.50% | |||||||||||||||||||||
| Debt instrument maturity period | June 9, 2015 | June 9, 2015 | December 15, 2020 | |||||||||||||||||||||
| Debt instrument maximum amount outstanding | 750,000,000 | |||||||||||||||||||||||
| Repayment, minimum percentage outstanding | 5.00% | |||||||||||||||||||||||
| Debt instrument face amount | 300,000,000 | |||||||||||||||||||||||
| Net proceeds from debt offering | 295,700,000 | |||||||||||||||||||||||
| Debt offering initial discount | 1,600,000 | |||||||||||||||||||||||
| Interest rate contract settlement | 31,000,000 | |||||||||||||||||||||||
| Interest rate contract settlement term | 10 | |||||||||||||||||||||||
| Interest rate contract settlement, interest rate, effective percentage | 5.80% | |||||||||||||||||||||||
| Leverage ratio | 3.25 to 1.0 | 3.0 to 1 | 3.25 to 1 | |||||||||||||||||||||
| Debt offering underwriting commission | 1,900,000 | |||||||||||||||||||||||
| Estimated offering expenses | 800,000 | |||||||||||||||||||||||
| Outstanding repayment of indebtedness | 250,000,000 | |||||||||||||||||||||||
| Contingent percentage of principal amount plus accrued and unpaid interest | 101.00% | |||||||||||||||||||||||
| Interest rate contract with notional amount | 350,000,000 | 300,000,000 | ||||||||||||||||||||||
| Revolving Facility | $ 374,200,000 | $ 374,200,000 | ||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Annual credit facility basis point. No definition available.
|
| X | ||||||||||
|
- Definition
Applicable margin basis point. No definition available.
|
| X | ||||||||||
|
- Definition
Applicable margin over LIBOR No definition available.
|
| X | ||||||||||
|
- Definition
Current margin basis point. No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Maturity Period No definition available.
|
| X | ||||||||||
|
- Definition
Debt instrument maximum amount outstanding No definition available.
|
| X | ||||||||||
|
- Definition
Debt offering initial discount No definition available.
|
| X | ||||||||||
|
- Definition
Estimated Offering Expenses No definition available.
|
| X | ||||||||||
|
- Definition
Interest Rate Contract Settlement No definition available.
|
| X | ||||||||||
|
- Definition
Interest Rate Contract Settlement, Interest Rate, Effective Percentage. No definition available.
|
| X | ||||||||||
|
- Definition
Interest Rate Contract Settlement Term No definition available.
|
| X | ||||||||||
|
- Definition
Interest rate exchange agreement expiration date No definition available.
|
| X | ||||||||||
|
- Definition
Leverage ratio No definition available.
|
| X | ||||||||||
|
- Definition
Line Of Revolving Facility, Amount Outstanding No definition available.
|
| X | ||||||||||
|
- Definition
Net proceeds from debt offering No definition available.
|
| X | ||||||||||
|
- Definition
Outstanding Repayment Of Indebtedness Under The Credit Facility No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Principal Amount Plus Accrued And Unpaid Interest No definition available.
|
| X | ||||||||||
|
- Definition
Repayment, Maximum Percentage Outstanding No definition available.
|
| X | ||||||||||
|
- Definition
Replaced credit facility due to expire No definition available.
|
| X | ||||||||||
|
- Definition
Replaced credit facility expiration date No definition available.
|
| X | ||||||||||
|
- Definition
Senior unsecured long term debt basis point, max. No definition available.
|
| X | ||||||||||
|
- Definition
Senior unsecured long term debt basis point, min. No definition available.
|
| X | ||||||||||
|
- Definition
Unsecured senior bank term loan agreement amount No definition available.
|
| X | ||||||||||
|
- Definition
Total monetary amount specified by the derivative(s). Expressed as an absolute value. No definition available.
|
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the hedged item as of the balance sheet date related to the derivative. For example, the hedged balance on a debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
Fixed interest rate related to the interest rate derivative. No definition available.
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects when the credit facility terminates, which may be presented in a variety of ways (year, month and year, day, month and year, quarter). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects when the credit facility first became available, which may be presented in a variety of ways (year, month and year, day, month and year, quarter). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum amount borrowed under the credit facility at any time during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of interest rate derivatives, which relates to the currency amount specified in the interest rate derivative instruments. No definition available.
|
| X | ||||||||||
|
- Definition
Costs incurred during the period, such as those relating to general administration and policy maintenance that do not vary with and are not primarily related to the acquisition or renewal of insurance contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from entity's raising of capital via private rather than public placement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of the portion of long-term, uncollateralized debt obligations due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Borrowings (Schedule Of Borrowings) (Details) (USD $)
|
Jun. 30, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Revolving Facility | $ 374,200,000 | |
| Total borrowings | 878,137,000 | 527,895,000 |
| Less current portion | (85,020,000) | (119,445,000) |
| Total long-term borrowings | 793,117,000 | 408,450,000 |
|
Revolving Credit Facility [Member]
|
||
| Revolving Facility | 374,222,000 | |
|
Line of Credit [Member]
|
||
| Credit facility | 27,842,000 | |
|
Term Loan [Member]
|
||
| Total borrowings | 82,000,000 | 90,000,000 |
|
Other Borrowings [Member]
|
||
| Total borrowings | 6,866,000 | 4,285,000 |
|
2.58% Senior Euro Notes [Member]
|
||
| Total borrowings | 116,559,000 | 107,341,000 |
|
4.5% Senior Notes [Member]
|
||
| Total borrowings | $ 298,490,000 | $ 298,427,000 |
| X | ||||||||||
|
- Definition
Line Of Revolving Facility, Amount Outstanding No definition available.
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date. May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivative Instruments (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
6 Months Ended | |
|---|---|---|
|
Jun. 30, 2011
|
Dec. 31, 2011
|
|
| Interest rate exchange agreement expiration date | December 2011 | December 2011 |
| Notional amount | $ 82.0 | |
| Floating-rate debt converted into fixed-rate debt | 100.0 | |
| Other comprehensive income in shareholders' equity based on interest rate, approximate | 4.7 | |
| Notional amount foreign currency exchange contracts | 0.5 | |
|
Interest Rate Exchange Agreement [Member]
|
||
| Notional amount | 82.0 | |
| Floating-rate debt converted into fixed-rate debt | 100.0 | |
| Interest rate | 4.00% | |
| Other comprehensive income in shareholders' equity based on interest rate, approximate | 1.2 | |
|
Forward Starting Interest Rate Contract [Member]
|
||
| Other comprehensive income in shareholders' equity based on interest rate, approximate | $ 3.5 | |
|
Term Loan [Member]
|
||
| Interest rate | 4.00% | |
| Current margin, basis point spread over LIBOR | 80 |
| X | ||||||||||
|
- Definition
Current margin basis point. No definition available.
|
| X | ||||||||||
|
- Definition
Interest rate exchange agreement expiration date No definition available.
|
| X | ||||||||||
|
- Definition
Total monetary amount specified by the derivative(s). Expressed as an absolute value. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of the hedged item as of the balance sheet date related to the derivative. For example, the hedged balance on a debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
Fixed interest rate related to the interest rate derivative. No definition available.
|
| X | ||||||||||
|
- Definition
The income statement location of the effective portion of net gain or loss reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of foreign currency exchange rate derivatives. Notional amount refers to the number of currency units specified in the foreign currency derivative contract. No definition available.
|
|
Derivative Instruments (Schedule Of Fair Value Amounts Of Derivative Instruments) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2011
|
Dec. 31, 2010
|
|---|---|---|
|
Interest Rate Agreements [Member]
|
||
| Fair Value Liabilities | $ (1,161) | $ (2,328) |
|
Foreign Exchange Contracts [Member]
|
||
| Fair Value Assets | $ 176 |
| X | ||||||||||
|
- Definition
Fair value of derivative asset, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of derivative liability, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivative Instruments (Schedule Of Net Change Recognized And The Amounts And Location Of Income (Expense) and Gain (Loss) Reclassified Into Income For Interest Rate Contracts And Foreign Currency Contracts) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
|
Interest Rate Agreements [Member]
|
||||
| Gain (Loss) Recognized in Other Comprehensive Income | $ 956 | $ (26,871) | $ 1,911 | $ (26,755) |
| Expense and Gain Reclassified into Income | (1,518) | (2,279) | (3,078) | (4,605) |
|
Foreign Exchange Contracts [Member]
|
||||
| Gain (Loss) Recognized in Other Comprehensive Income | 2 | (55) | 2 | |
| Expense and Gain Reclassified into Income | $ 107 | $ 227 | ||
| X | ||||||||||
|
- Definition
The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value Measurements (Narrative) (Details) (USD $)
|
6 Months Ended | |
|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
| Fair value of our credit facility, term loan and senior notes | $ 834,100,000 | |
| Carrying value of our credit facility, term loan and senior notes | 871,300,000 | |
| Transfers of assets or liabilities between Level 1 and Level 2 | $ 0 | $ 0 |
|
2.58% Senior Euro Notes [Member]
|
||
| Stated interest rate | 2.58% | |
|
4.5% Senior Notes [Member]
|
||
| Stated interest rate | 4.50% | |
| X | ||||||||||
|
- Definition
The amount of the transfers of assets or liabilities measured on a recurring basis out of Level 1 of the fair value hierarchy into Level 2. No definition available.
|
| X | ||||||||||
|
- Definition
Long-Term Debt, Carrying Value. No definition available.
|
| X | ||||||||||
|
- Definition
Estimated fair value of the debt instrument at the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value Measurements (Schedule Of Company's Financial Assets And (Liabilities) At Fair Value On A Recurring Basis) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Money market investment | $ 8,000 | $ 96,730 |
| Available for sale securities | 2,353 | |
| Contingent consideration | (2,707) | |
| Interest rate agreements | (1,161) | (2,328) |
| Foreign currency contracts | 176 | |
|
Fair Value, Inputs, Level 1 [Member]
|
||
| Money market investment | 8,000 | 96,730 |
| Available for sale securities | 2,353 | |
| Contingent consideration | ||
| Interest rate agreements | ||
| Foreign currency contracts | ||
|
Fair Value, Inputs, Level 2 [Member]
|
||
| Money market investment | ||
| Available for sale securities | ||
| Contingent consideration | ||
| Interest rate agreements | (1,161) | (2,328) |
| Foreign currency contracts | 176 | |
|
Fair Value, Inputs, Level 3 [Member]
|
||
| Money market investment | ||
| Available for sale securities | ||
| Contingent consideration | (2,707) | |
| Interest rate agreements | ||
| Foreign currency contracts |
| X | ||||||||||
|
- Definition
Contingent consideration fair value disclosure No definition available.
|
| X | ||||||||||
|
- Definition
Money market investment fair value disclosure No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents contracts related to the exchange of different currencies, including foreign currency options, forward (delivery or nondelivery) contracts, and swaps entered into and existing as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Common And Preferred Stock (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
Jun. 30, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Common And Preferred Stock | ||
| Common stock, shares authorized | 150 | 150 |
| Common stock, par value | $ 0.01 | $ 0.01 |
| Preferred stock, shares authorized | 5 | 5 |
| Preferred stock, par value | $ 0.01 | $ 0.01 |
| Preferred stock, shares issued | 0 | 0 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Share-Based Compensation (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
6 Months Ended | |
|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
| Stock options granted | 0.7 | 0.9 |
| Unvested shares granted | 0.2 | 0.3 |
| Capitalized compensation cost | $ 0.1 | |
|
Stock Options [Member]
|
||
| Total unrecognized compensation cost | 13.6 | |
| Weighted-average period of total unrecognized compensation cost, in years | 1.5 | |
|
Unvested Shares [Member]
|
||
| Total unrecognized compensation cost | $ 12.0 | |
| Weighted-average period of total unrecognized compensation cost, in years | 1.2 | |
| X | ||||||||||
|
- Definition
Represents the compensation cost capitalized during the period arising from share-based compensation arrangements (for example, shares of stock, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the latest balance-sheet date presented, the total compensation cost related to outstanding, nonvested share-based compensation awards not yet recognized (will be charged against earnings as services are performed or other vesting criteria are met). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average period over which unrecognized share-based compensation costs are expected to be reported. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares issuable under a share-based award plan pertaining to grants made during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The quantity of shares issuable on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Share-Based Compensation (Schedule Of Weighted Average Option Fair Values And Assumptions) (Details) (USD $)
|
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
| Weighted average fair value of grants | $ 12.89 | $ 9.22 | $ 12.31 | $ 9.54 |
| Dividend yield | 1.35% | 1.85% | 1.45% | 1.50% |
| Volatility | 31.96% | 32.97% | 32.73% | 33.45% |
| Expected life (in years) | 5.89 | 5.97 | 6.13 | 5.98 |
|
Minimum [Member]
|
||||
| Risk-free forward interest rate | 0.26% | 0.34% | 0.28% | 0.32% |
|
Maximum [Member]
|
||||
| Risk-free forward interest rate | 5.62% | 5.33% | 5.62% | 5.69% |
| X | ||||||||||
|
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The period of time a share-based award is expected to be outstanding. A share-based award's expected term shall be determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. An entity is required to aggregate individual awards into relatively homogeneous groups. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated measure of the percentage amount by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Share-Based Compensation (Schedule Of Compensation Cost For Stock Options And Unvested Shares) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
| Stock-based compensation expense | $ 10,082 | $ 9,330 | ||
|
Stock Options [Member]
|
||||
| Stock-based compensation expense | 2,138 | 2,177 | 4,426 | 4,392 |
| Income tax benefit | (716) | (713) | (1,452) | (1,413) |
| Total expense after income taxes | 1,422 | 1,464 | 2,974 | 2,979 |
|
Unvested Shares [Member]
|
||||
| Stock-based compensation expense | 3,095 | 2,405 | 5,656 | 4,938 |
| Income tax benefit | (582) | (483) | (1,086) | (1,050) |
| Total expense after income taxes | 2,513 | 1,922 | 4,570 | 3,888 |
|
Cost of Goods Sold [Member] | Stock Options [Member]
|
||||
| Stock-based compensation expense | 208 | 271 | 443 | 529 |
|
Cost of Goods Sold [Member] | Unvested Shares [Member]
|
||||
| Stock-based compensation expense | 150 | 138 | 298 | 265 |
|
Selling, General and Administrative Expenses [Member] | Stock Options [Member]
|
||||
| Stock-based compensation expense | 1,930 | 1,906 | 3,983 | 3,863 |
|
Selling, General and Administrative Expenses [Member] | Unvested Shares [Member]
|
||||
| Stock-based compensation expense | $ 2,945 | $ 2,267 | $ 5,358 | $ 4,673 |
| X | ||||||||||
|
- Definition
Share based compensation after tax. No definition available.
|
| X | ||||||||||
|
- Definition
The total recognized tax benefit related to compensation cost for share-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Retirement Benefits (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Anticipated additional contribution for pension plans and other postretirement benefit plans in 2011 | $ 3.7 | |
|
Pension Plans [Member]
|
||
| Expected contribution for next fiscal year | 7.9 | |
| Actual contributions | 4.8 | |
|
Other Postretirement Benefit Plans [Member]
|
||
| Expected contribution for next fiscal year | 1.0 | |
| Actual contributions | $ 0.4 |
| X | ||||||||||
|
- Definition
Additional contribution pension plans and other postretirement benefit plans. No definition available.
|
| X | ||||||||||
|
- Definition
Defined Benefit Plan, Cumulative Contribution by Employer No definition available.
|
| X | ||||||||||
|
- Definition
The employer's best estimate, as soon as it can be reasonably determined, of contributions expected to be paid to the plan during the next fiscal year beginning after the date of the latest statement of financial position. Estimated contributions may be presented in the aggregate combining (1) contributions required by funding regulations or laws, (2) discretionary contributions, and (3) noncash contributions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Retirement Benefits (Components Of Net Periodic Benefit Cost For Defined Benefit Plans And Other Postretirement Plans) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
|
U.S. [Member]
|
||||
| Service cost | $ 460 | $ 469 | $ 920 | $ 938 |
| Interest cost | 1,132 | 1,139 | 2,264 | 2,279 |
| Expected return on plan assets | (1,198) | (1,108) | (2,396) | (2,216) |
| Net amortization | 1,081 | 1,127 | 2,162 | 2,254 |
| Net periodic benefit cost | 1,475 | 1,627 | 2,950 | 3,255 |
|
Non-U.S. [Member]
|
||||
| Service cost | 211 | 173 | 413 | 357 |
| Interest cost | 595 | 519 | 1,169 | 1,071 |
| Expected return on plan assets | (282) | (80) | (559) | (163) |
| Net amortization | 113 | 72 | 223 | 148 |
| Net periodic benefit cost | 637 | 684 | 1,246 | 1,413 |
|
Other Postretirement Benefit Plans [Member]
|
||||
| Service cost | 173 | 130 | 346 | 260 |
| Interest cost | 260 | 260 | 519 | 519 |
| Net amortization | (39) | (76) | (78) | (175) |
| Net periodic benefit cost | $ 394 | $ 314 | $ 787 | $ 604 |
| X | ||||||||||
|
- Definition
The amount of gains or losses recognized in net periodic benefit cost Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain or loss, prior service cost or credit, transition asset or obligation, and gain or loss due to settlements or curtailments). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes (Details) (USD $)
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3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
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Jun. 30, 2011
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Jun. 30, 2010
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Jun. 30, 2011
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Jun. 30, 2010
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| Provision for income taxes | $ 23,074,000 | $ 19,022,000 | $ 45,483,000 | $ 37,110,000 |
| Effective tax rate | 31.50% | 32.00% | 31.70% | 32.50% |
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Minimum [Member]
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| Change in unrecognized tax benefits over next 12 months | 0 | 0 | ||
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Maximum [Member]
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| Change in unrecognized tax benefits over next 12 months | $ 900,000 | $ 900,000 | ||
| X | ||||||||||
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- Definition
A ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The gross amount of unrecognized tax benefits (tax reductions recognized in financial reports but excluded from tax returns) pertaining to uncertain tax positions taken in tax returns as of the beginning balance sheet date, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Comprehensive Income (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2011
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Jun. 30, 2010
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Jun. 30, 2011
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Jun. 30, 2010
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| Comprehensive Income | ||||
| Net income | $ 50,182 | $ 40,398 | $ 98,133 | $ 77,023 |
| Unrealized gains on derivatives, net of tax | 860 | (15,571) | 1,764 | (13,996) |
| Pension and other post-retirement plans, net of tax | 792 | (3) | 1,577 | 740 |
| Cumulative translation adjustment | 6,659 | (28,224) | 31,537 | (50,865) |
| Comprehensive income | $ 58,493 | $ (3,400) | $ 133,011 | $ 12,902 |
| X | ||||||||||
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The adjustment out of other comprehensive income for prior service costs recognized as a component of net period benefit cost during the period, after tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity, net of tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, net of tax effect. The after tax effect change includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events (Details) (USD $)
In Millions, unless otherwise specified |
Jul. 15, 2011
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Apr. 15, 2010
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|---|---|---|
| Subsequent Events | ||
| Notional amount of forward interest rate contract | $ 350.0 | $ 300.0 |
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- Details
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| X | ||||||||||
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- Definition
Aggregate notional amount of interest rate derivatives, which relates to the currency amount specified in the interest rate derivative instruments. No definition available.
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